13 LESSONS LEARNED FROM BOOK- MONEY: MASTER THE GAME

1. Money is neutral

Money is simply a tool, it is our intentions and means that make it evil or good. Money amplifies what a person already is. It will make the greedy more greedy and it will make the generous more generous.

Money can fund a dream or start a war. — Tony Robbins

2. Be honest about your financial situation

Being too negative or too positive is dangerous.

You have to be real when it comes to managing your money.

Be honest with yourself about where you are and identity what you’re lacking so you can begin to make changes.

3. Be humble

Being overconfident with what you know is a recipe for disaster anywhere, especially with finances.

The best investors know they’re going to be wrong, no matter how smart they are. — Ray Dalio

4. Give

According to Robbins, giving is the ultimate secret to wealth.

It might be counterintuitive that giving allows you to have more. But maybe that’s just how life works, it gives to the givers.

5. Prepare

It wasn’t raining when Noah built the arc.

Build an umbrella fund while the weather is nice.
Set up health funds while you’re still healthy.
Save for retirement while you’re still young.

Losers react; leaders anticipate - Tony Robbins

6. Contribute greatly

If you want to build great wealth, you have to create a product or service that helps as many people as possible.

It’s not just about the hours you have worked, it’s more about the value of your work.

7. Simplify

One reason people don’t actively manage their finances is they think it’s too complicated.

But money management doesn’t have to be complicated. Find apps that simplify or automate your savings.

8. Apply what you learn

How many books and articles about money have you read?

How many of the principles that you learned about have you actually put to the test?

Knowledge is powerful when you apply it with action, but useless if it only lives in your head.

9. Achieving Financial Freedom Takes Great Effort

If it was easy, everybody would do it.

Quite simply, if you want what the top 1% has, you need to be willing to do what the other 99% are not willing to do

10. Things are always changing

Don’t think that it will go on forever when things are going well nor when things are going bad.

Do not be complacent in times of abundance.

Do not lose hope in times of adversity.

11. You get what you tolerate

If you allow people to treat you badly, they will.

If you accept that life is working against you and there’s nothing you can do about it, then guess what? That’s exactly how it will be.

If you want things to improve, raise your standards

12. The stories we tell ourselves matter

“I’m not good with numbers.”

“I can never be rich.”

“I don’t understand money.”

These limiting beliefs stop you from achieving what you are capable of.

Get rid of them, IMMEDIATELY!

13. You CAN win!

You can win the financial game no matter how far you may seem from the finish line.

There are resources and people who can aid in your victory. But ultimately, the choice in winning lies in you.

Credit: Follow Accounting Knowledge Concepts